Indian app could able to substitute the absence of TikTok

Dailyhunt, the owner of Josh which is currently the leading domestic platform, launched apps like MX TakaTak, Roposo, Chingari, Moj Mitron, Trell and others to fill the huge void.

They have claimed to have 40 per cent market share of their Chinese rival TikTok since the Indian government banned it along with other apps in June this year. Bengaluru headquartered VerSe Innovation, operates news aggregator and content platform Dailyhunt and short video platform Josh, has announced the completion of its staggered $100 million fundraise from Google, Microsoft and AlphaWave (a unit of Falcon Edge Capital)and valued over $1 billion.

Initially the agency started as NewsHunt, the platform was founded in 2009 by Umesh Kulkarni and Chandrashekhar Sohoni. It was acquired by VerSe Innovations in 2012 and rebranded as Dailyhunt in 2015. Existing investors Sofina Group and Lupa Systems also participated in this funding round

China has set the goal of creating the world's most advanced artificial intelligence and machine learning by 2030, with the data coming from Chinese apps in the country, their most advanced technology is in the works , If the flow of data being collected from India is broken then the work of their Artificial Intelligence Project will be severely affected.

Chinese app, TikTok had created a mass acceptance by creating nearly over 167 million users by June 2020, then the consumers were searching for options to entertain themselves at low cost. There are other global players including Facebook (Reels) and YouTube (Shorts) also started to offer short-videos in app, considering growth of the short-form video content.

Interestingly, Dailyhunt is also Chinese funded company. The company had started monetising its content through digital ads over a year ago after onboarding former Facebook executive Umang Bedi, gradually they are able to pulled various high profiled executives from the corporate world. Besides India, it operates in countries including Sri Lanka, Nepal, Bangladesh, and some African countries is backed by all foreign investors including venture capital firms Sequoia Capital, Goldman Sachs, Sofina and China’s ByteDance.

The company's application uses unique machine learning and deep learning technologies for smart curation of content and tracking user preferences, thus providing users with personalized content and notifications to its users in Android, IOS & Windows platforms.